Follow-up drilling aimed at establishing a maiden resource, enabling Nimy to capitalise on western demand for this critical metal, which is now subject to Chinese export controls.
Nimy Resources (ASX:NIM) is pleased to announce that it is preparing to start the Phase 2 drilling program at its Block 3 gallium discovery in WA after securing Raglan Drilling to conduct the program.
The drilling is aimed at growing the extent of the known mineralisation over a further 400m strike length while also infilling the established mineralised area. Nimy aims to complete a maiden JORC resource on Block 3 as soon as possible following completion of this program.
The resource will in turn assist the Company with its strategy to advance its collaboration agreement with US minerals specialist M2i Global. The drilling will be funded by the proceeds of Nimy’s recently-completed share placement (see ASX release dated February 26, 2025).
M2i specialises in the development and execution of a complete global value supply chain for critical minerals for the US Government and US free trade partners. Samples from the upcoming drilling will be used for metallurgical test work, including technical studies to test gallium extraction methods.
Nimy Managing Director Luke Hampson said:
Block 3 is clearly a significant high-grade discovery with mineralisation already outlined over a substantial area. We have tested only a small portion of the highly prospective strike length, which gives us every reason to believe we stand to grow the size of the discovery. Gallium is a critical metal used in many cutting-edge technologies, including top level military applications. Given that China supplies virtually all the world’s gallium and recently imposed restrictions on it, there is a huge opportunity for Nimy to play a role as a provider to the western world”.
(in USD Billion)
*source: researchandmarkets.com (Gallium Global Market Report 2024 – January 2024)
